Bumble (NASDAQ:BMBL) Price Target Cut to $7.00 by Analysts at Royal Bank of Canada

Bumble (NASDAQ:BMBL) had its target price lowered by Royal Bank of Canada from $8.00 to $7.00 in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on the company. Citigroup dropped their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a research report on Wednesday. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Morgan Stanley raised their price target on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Piper Sandler lowered their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.05.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $5.21 on Wednesday. Bumble has a 1-year low of $4.80 and a 1-year high of $13.36. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The business’s fifty day moving average price is $7.86 and its two-hundred day moving average price is $7.40. The firm has a market capitalization of $564.06 million, a PE ratio of -1.07 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of Bumble by 25.5% in the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bumble by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock valued at $32,279,000 after purchasing an additional 22,136 shares during the period. RPD Fund Management LLC acquired a new position in shares of Bumble in the 4th quarter valued at $30,940,000. Geode Capital Management LLC boosted its position in shares of Bumble by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after purchasing an additional 14,889 shares during the period. Finally, Northern Trust Corp boosted its position in Bumble by 3.5% during the 4th quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after acquiring an additional 32,353 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.